(RTTNews) - The South Korea stock market has moved higher in three straight sessions, advancing more than 100 points or 2 percent to a fresh record closing high. The KOSPI now sits just above the 4,990-point plateau and it may tick higher again on Monday.
The global forecast for the Asian markets is murky, with geopolitical concerns likely to limit any upside. The European and U.S. markets were mixed and little changed and the Asian markets figure to follow that lead.
The KOSPI finished modestly higher again on Friday as gains from the technology and financial shares were capped by profit taking among the automobile producers.
For the day, the index added 37.54 points or 0.76 percent to finish at 4,990.07 after trading between 4,926.22 and 5,021.13. Volume was 595.6 million shares worth 29.6 trillion won. There were 677 gainers and 212 decliners.
Among the actives, Shinhan Financial expanded 1.21 percent, while KB Financial collected 0.67 percent, Hana Financial added 0.60 percent, Samsung Electronics eased 0.13 percent, Samsung SDI tumbled 2.99 percent, LG Electronics shed 0.56 percent, SK Hynix vaulted 1.59 percent, Naver skyrocketed 8.35 percent, LG Chem spiked 2.14 percent, Lotte Chemical soared 4.29 percent, SK Innovation dipped 0.14 percent, POSCO Holdings rallied 2.36 percent, SK Telecom jumped 1.62 percent, KEPCO plummeted 7.27 percent, Hyundai Mobis advanced 0.88 percent, Hyundai Motor plunged 3.59 percent and Kia Motors stumbled 3.40 percent.
The lead from Wall Street offers little clarity as the major averages opened lower on Friday but quickly turned mixed and finished the session that way.
The Dow dropped 285.30 points or 0.58 percent to finish at 49,098.30, while the NASDAQ added 65.22 points or 0.28 percent to close at 23,501.24 and the S&P 500 perked 2.26 points or 0.03 percent to end at 6,915.61.
For the week, the Dow shed 0.5 percent, the S&P fell 0.4 percent and the NASDAQ eased 0.1 percent.
The mixed performance came as traders kept an eye on the latest geopolitical developments, with easing concerns about tensions over Greenland being replaced by renewed worries about a confrontation between the U.S. and Iran.
After President Donald Trump ruled out the use of force to acquire Greenland and backed off tariff threats against Europe, he has now apparently shifted his attention back to Iran and has an "armada" heading toward the Middle East.
Crude oil prices soared on Friday as fresh war threats in the Middle East raised supply disruption concerns. West Texas Intermediate crude for March delivery was up $1.75 or 2.95 percent at $61.11 per barrel.
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